WHITEFISH CREDIT UNION ASSOCIATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1934

Legal Domicile

Principal Officer

JAMES KENYON

Phone

4068623525

Tax Period

2023-01-01 to 2023-12-31

WHITEFISH CREDIT UNION ASSOCIATION, founded in 1934, is a mid-sized nonprofit that reported $84.8M in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum.

Mission

TO PROVIDE A FAVORABLE RETURN ON SAVINGS AND LOANS AT REASONABLE RATES TO ELIGIBLE MEMBERS.

Program Service Accomplishments

Program 1

TO PROVIDE A FAVORABLE RETURN ON SAVINGS AND LOANS AT REASONABLE RATES TO ELIGIBLE MEMBERS. MEMBERSHIP IS RESTRICTED TO THOSE INDIVIDUALS RESIDING IN MONTANA COUNTIES OF FLATHEAD, LAKE, LINCOLN...

TO PROVIDE A FAVORABLE RETURN ON SAVINGS AND LOANS AT REASONABLE RATES TO ELIGIBLE MEMBERS. MEMBERSHIP IS RESTRICTED TO THOSE INDIVIDUALS RESIDING IN MONTANA COUNTIES OF FLATHEAD, LAKE, LINCOLN, SANDERS, BROADWATER, GALLATIN, LEWIS AND CLARK, MISSOULA AND RAVALLI, AND WITHIN A 50 MILE RADIUS OF WHITEFISH MONTANA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $58,609,514

Investment Income $26,199,823

Other Revenue $39,593

TOTAL REVENUE $84,848,930

Expense Breakdown

Grants Paid $292,645

Salaries & Benefits $21,359,785

Fundraising Expenses $0

Other Expenses $62,899,484

TOTAL EXPENSES $84,551,914

Year-over-Year Comparison

	2023	2022	Change
Revenue	$84,848,930	$66,349,817	+0.3%
Expenses	$84,551,914	$59,623,158	+0.4%
Net Income	$297,016	$6,726,659	-1.0%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✓ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

244

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$3,617,295

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRANK BARNES	BOARD CHAIRMAN	2.00	Officer Director	$0	$0	$0
SUE BROWN	BOARD VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
LEO TRACY	BOARD SECRETARY	2.00	Officer Director	$0	$0	$0
LYLE PHILLIPS	BOARD DIRECTOR	2.00	Director	$0	$0	$0
TOM CULLEN	BOARD DIRECTOR	2.00	Director	$0	$0	$0
SHARON KAHLE	BOARD DIRECTOR	2.00	Director	$0	$0	$0
FRANK GARNER	BOARD DIRECTOR	2.00	Director	$0	$0	$0
JENNIFER D ARCHER	SVP OF LOAN OPERATIONS	40.00	Officer	$178,251	$8,065	$186,316
SCOTT BOLSTER	SVP AND CHIEF FINANCIAL OF	40.00	Officer	$328,408	$61,662	$390,070
CORY J COOPMAN	SVP OF IT AND PROJECT MANA	40.00	Officer	$204,195	$10,905	$215,100
STEPHEN W HAUGEN	SVP AND CHIEF INFORMATION	40.00	Officer	$249,242	$61,581	$310,823
JAMES KENYON	PRESIDENT AND CEO	40.00	Officer	$1,279,825	$353,419	$1,633,244
COLLEEN M MURPHY	SVP AND CHIEF OPERATING OF	40.00	Officer	$235,259	$59,235	$294,494
MATTHEW VENTURINI	SVP OF LENDING	40.00	Officer	$204,258	$10,573	$214,831
JOSHUA S WILSON	SVP OF MARKETING	40.00	Officer	$172,365	$10,121	$182,486
CHERYL MINTZ	SVP OF HUMAN RESOURCES	40.00	Officer	$179,569	$10,362	$189,931
TIMOTHY GAERTNER	VP, MORTGAGE LOAN MANAGER	40.00	Highest	$151,105	$9,162	$160,267
TOBIN SHANNON	COMMERCIAL LOAN MANAGER	40.00	Highest	$143,714	$5,064	$148,778
KELLY S ST ONGE	VP, COMMERCIAL LOAN OFFICE	40.00	Highest	$192,762	$9,407	$202,169
BARBARA STROUSE	VP, MORTGAGE LOAN MANAGER	40.00	Highest	$143,337	$3,262	$146,599
MOLLY DROLLINGER	VP, CONTROLLER	40.00	Highest	$141,324	$4,855	$146,179
MICHAEL T BLUBAUGH	INV. OFFICER (FORMER CFO)	25.00		$127,306	$7,970	$135,276

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$84,848,930	$84,551,914	$2,085,209,537	$297,016
2022	$66,349,817	$59,623,158	$2,160,572,373	$6,726,659
2021	$56,245,060	$37,772,148	$2,140,183,938	$18,472,912
2020	$54,097,285	$38,629,018	$1,826,525,072	$15,468,267
2019	$53,439,813	$43,083,167	$1,548,100,768	$10,356,646
2018	$51,414,495	$38,909,992	$1,470,439,826	$12,504,503